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Message: Re: Promissory Note
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Jan 30, 2021 05:19PM
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Jan 30, 2021 05:21PM
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Jan 31, 2021 10:51AM

There are no details on the Promissory Note filed. One would have to check with ZCC as to the actual terms unless they NR it or post it some other way. This was just filed on SEDAR the same as other Exempt Distributions. This is not the same as the others as this is a loan while the others are equity purchases. I assume it is reported this way due to the issuance of the warrants. Just a Promissory Note without warrants probably wouldn't be reported this way. Being a loan is why the expiry term can be way different than with the equity purchases. You would have to know the loan terms to be able to judge if it is fair or not. Remember that Eastern Capital received RVX warrants once that were, I believe for the Letter of Credit he issued for RVX and it was for 5 or 6 years expiry. They were issued back around 2013 or 2014 and he just had to exercise in 2019 or 2020. On the line where it usually says 'Units' or 'Common Shares' it this time just says 'Promissory Note'. There will be a separate agreement between the parties with the loan details.

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Jan 31, 2021 02:39PM
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Jan 31, 2021 07:36PM
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Feb 01, 2021 03:31PM
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